Understanding the Car Accident Settlement Process in Rock Hill
Understanding the car accident settlement process in Rock Hill is important to helping injured claimants recover compensation for their injuries and damages. A knowledgeable car accident attorney could explain the settlement process as well as your legal options to recover compensation for damages. Speak to an attorney to discuss your case, rights, and legal options.
What Is the Settlement Process in Rock Hill?
The settlement process begins once a resolution is agreed upon. Once a dollar amount is offered and accepted by the injured party, at that point, the lawsuit has not been filed. It is as simple as the insurance company sending a check to the lawyer’s office, and that is normally one lump sum that includes all of the claimant’s damages. The lawyer receives that check, their fee is taken out of that check, any outstanding medical liens are paid out of that check, and the claimant is paid out of that check as well.
The way the process works is that the check is deposited into the law firm’s trust account, and then they would write checks out of the trust account for that amount, paying injured claimant, the medical bills, any medical liens, as well as the firm. It is different if the claimant is a minor. Then the lawyer would potentially have to seek approval from the courts. In a wrongful death case, they would also have to seek approval from the courts.
If a Lawsuit Has Been Filed
It is a little bit different if a lawsuit has been filed. At that point, typically the check would go to the defense attorney first and then come to the lawyer. If there is a court order or a mediation agreement, there may be certain steps that have to be followed or specific ways their funds would have to be handled, such as potentially funding a structured annuity or paying the claimant over time, but regardless, those are all things that are worked out after the resolution process.
The attorney can add value by making sure that the person is receiving full value for their case. They can also deal with the insurance company throughout that process and take that time and stress away from the claimant rather than the claimant handling it themselves.
What is The Length of Time To Receive a Settlement?
The general length of time it takes to receive a settlement varies on a case-by-case basis. Once a settlement amount is agreed upon, the lawyer will receive a check from the insurance company within a week or two. There are situations where that can take much longer, and that is after an agreement has been reached between the parties. If they are talking about from the date of loss to the date of settlement, that can vary depending on the type of case.
Expediting the Settlement Process
In the front end, the process can be expedited by pushing to receive and compiling all the evidence needed to present the case as quickly as possible, so that when the claimant has gotten through with their treatment, the lawyer is able to present the case on a certain timeline. At that point, once the claim is presented to the insurance carrier, it is just a matter of hearing back from the insurance carrier, which often makes sense.
That could be expedited with regular communication with the insurance carrier to make sure that they are reviewing everything that has been presented to them to make a settlement offer. Then it can also be expedited by engaging in negotiation efforts with the insurance carrier expeditiously.
How a Car Accident Attorney Could Help
Rock Hill car accident attorneys are a benefit to someone looking to settle a car accident suit. First, a claimant should never resolve a car accident car without first consulting with an attorney. A car accident lawyer could make sure that money is not being left off of the table and that the claimant is receiving full value for their case.
Unfortunately, when attorneys are not involved in consulting claimants, insurance companies tend to take advantage of that situation and would often not agree to pay or award the claimant all of the damages that they are entitled to. Call today to learn more about the car accident settlement process in Rock Hill.